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Aurora Spine Corporation (OTCMKTS:ASAPF) Stock Continues to Gain Momentum

Ian Leigh , , , ,

Aurora Spine Corporation (OTCMKTS:ASAPF) is a company that is involved in the development and manufacturing of such medical devices which improve the outcomes from spinal surgeries. Yesterday, the company was in focus after it announced its financial results for the fiscal year of 2022 that ended on December 31, 2022.

Trading Data

On Monday, ASAPF stock gained 2% to $0.2193 with more than 6K shares, compared to volume of 22.17K shares. The stock moved within a range of $0.2193 – 0.2193 after opening trade at $0.2193.

Aurora Spine Corporation Announces Fourth Quarter and Fiscal 2022 Financial Results

The company noted that throughout the course of 2022 it had experienced strong sales growth in each quarter. It clocked record annual revenues of $14.9 million for the year which worked out to a rise of 41% from the previous year. The rise in revenues was essentially a function of the 21% boost in ZIP sale in the pain management space and a 200% rise in sales of the SiLO Joint Fusion System.

The margin also got a major boost as it went up to as much as 52.5% in 2022 from only 45.8% in 2021. During the 2022 fiscal year,Aurora Spine Corporation also managed to get a United States patent for its “Spinal Implant for Motion Preservation or Fusion”. It also got the United States Food and Drug Administration clearance for the SiLO TFX MIS Sacroiliac Joint Fixation System, which had already been patented.

Ian Leigh

Ian Leigh is a specialist in analyzing stocks, SEC and OTC filings, and financials of public and privately-held companies. He has played a significant role in M&A activity, consulting with publicly-held firms on acquisitions and divestitures. He also consults on valuations and branding. He lectures at major universities and teaches at specialty financial schools.